The Gross Domestic Product (GDP) in Lancashire was worth an estimated £33 billion in 2019, according to figures published by the ONS. Lancashire's GDP growth between 2018 and 2019 was 2.9% per year. Compare GDP by area.
The Manufacturing industry is the largest in Lancashire based on the number of jobs, accounting for 14.3% of roles in the area.
2019 ONS figures suggest that there are 601,000 jobs in Lancashire, which has a working-age (aged 16-65) population of 745,117. The 2019 job density in Lancashire is 0.81, meaning there are 0.81 jobs per member of the Lancashire working-age population.
Lancashire had a mean average salary for full-time employees of £32,732 in 2021. Lancashire's unemployment rate is 3.8% as of 2021. Compare unemployment rate by area.
The 2019 labour force or working-age population in Lancashire is 745,117 or 60.7% of the total population.
In 2021, 96.2% of the labour market was recorded as employed, above the 94.8% average rate for England. Of those employed, 11.7% are self-employed, and 88.3% are employees.
The Annual Population Survey for 2020 published by the ONS reports the percentage of the Lancashire working-age (aged 16-64) population who have a degree or higher is 38.1%, which is below the 42.8% degree qualification rate for England.
Over 58% of the Lancashire working-age population have at least 2 A-levels (or equivalent), and 8% have no qualifications.
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Main page: Lancashire Salary
The average salary in Lancashire as of 2021 is £32,732. Between 2020 and 2021, average salaries fell by £861. Compare average salaries by area.
Lancashire's salary growth rate is -2.56% per year based on changes in average salary between 2020 and 2021, which is 2.56% lower than the average salary growth rate in Lancashire over the past 9 years.
In Lancashire, the highest average wages are found in Ribble Valley where the average salary is £42,064 and the lowest average wages are found in Burnley where the average salary is £27,022. The difference in average salary between the two areas is £15,042 - the average person in Ribble Valley earns 55.7% more than the average person in Burnley.
Business data published by the ONS in 2020 show the most common job group in Lancashire is Elementary Administration & Service Occs, accounting for 8% of all roles in the area. In England as a whole, the largest job group is Business & Public Service Assoc. Professionals.
The fastest-growing type of job in Lancashire is Health & Social Care Assoc. Professionals, with roles increasing 123% between July 2020 and July 2021. In England, the fastest-growing type of role is Corporate Managers And Directors.
|Elementary Administration & Service Occs||46,600||8.2%||-1.9%|
|Corporate Managers And Directors||43,700||7.7%||-13.6%|
|Caring Personal Service Occupations||39,300||7.0%||-20.1%|
|Business & Public Service Assoc. Professionals||36,000||6.4%||3.2%|
There was a 3% decrease in roles between 2019 and 2020. In England as a whole, there was a 2% decrease.
Based on the total number of jobs, the largest industry in Lancashire is Manufacturing. Other major industries include Retail, Health, which represents over 10% of roles in Lancashire.
Financial & Insurance companies make up 1% of the Lancashire economy that's lower than the average for England as a whole (~3%).
3% of the total jobs in Lancashire are in Information and Communication, one of the key sectors for the future, below the 5% of jobs in England as a whole.
|Accommodation & Food Services||34,000||6.6%|
The fastest-growing industry in Lancashire is Mining, Quarrying & Utilities, with jobs in the sector increasing 14% between 2019 and 2020 from 7,000 to 8,000. In England more broadly the fastest-growing industry is Healthcare.
The industry with the biggest decline in Lancashire between 2019 and 2020 was Transport & storage, which saw an 21% decrease in roles, going from 24,000 to 19,000. In England more broadly the industry with the biggest year on year decline was Arts, entertainment & recreation, with roles decreasing by 8%.
The Information and communication industry includes many of the top companies of the future. In Lancashire, the number of roles in this sector has risen by 8% over the past year, above the 1% annual increase seen in England.
2021 UK Business Count data published by the ONS show there are 150 large businesses in Lancashire, making up 0.3% of total businesses - in England, 0.4% of businesses are large. A large business is defined as having over 250 employees.
There are 740 medium-sized businesses based in Lancashire, making up 1.6% of total businesses - in England, 1.5% of businesses are medium-sized. A medium-sized business is defined as having between 50 and 249 employees.
There are 4,280 small businesses based in Lancashire, making up 9.5% of total businesses - in England, 8.3% of businesses are small. A small business is defined as having between 10 and 49 employees.
Lancashire's unemployment rate is 3.8% that's 1% lower than the average unemployment rate for England as a whole. Unemployment rates are the number of unemployed people as a percentage of the working-age population.
The main group within the unemployment population is Student, representing 27.8% of the unemployed population.
Secondary classifications include groups: looking after family, long-term sick, retired, other, all of which represent over 10% of the unemployed population.
In England as a whole, students are the main group within the unemployed population, accounting for 28.9% of the unemployed population.
Source: Office for National Statistics licensed under the Open Government Licence v.3.0. Contains OS data © Crown copyright and database right 2021. Data sources: ONS Local statistics